How To Get Cobalt Historical Rates With An API

Are you trying to get cobalt historical rates? You should read this article, we have the best API for you.

Cobalt is one of the most valuable metals because it is demanded worldwide and it is used for many industries as a consequence the price is so expensive for example, in Europe, the price of cobalt has increased  88.7% since the start of 2021.

This metal is used in automobile airbags, petroleum and chemical industry catalysts, cemented carbides (also known as hard metals) and diamond tools, corrosion- and wear-resistant alloys, drying agents for paints, varnishes, and inks, dyes and pigments, ground coats for porcelain enamels, and high-speed machining.

It demonstrates how cobalt has been at the forefront of the industry.It is therefore critical to update to date with information, and finding a transparent pricing website that provides both historical and real-time rates is tough.

If you want to invest or analyze the prices on a specific date in order to compare the historical rates, you should use an application programming interface (API) due to the fact that provides data in real-time. An API gathers data from a location and then returns it to the user who requested it.

How To Get An API

In order to gain access to this technology, you must use software that allows you to do so. You might be able to find a few on the internet. In this example, we’ll use Metals-API to demonstrate how it works because it’s the most comprehensive.

To find out the historical rates, you have to do:

1. Visit www.metals-API.com and obtain your API key.
2. Look for the lead symbol and currency sign you want to use in the website’s list.
3. Add metal and money to the list with these symbols, then make the API call. You can choose a language programming such as JSON or PHP
4. Most currencies’ historical rates can be retrieved all the way back to 2019. By adding a date (format YYYY-MM-DD) to the basic URL, you can query the Metals-API API for historical rates.

The request should be written as follows:

https://metals-api.com/api/2013-12-24
? access_key = API_KEY
& base = CO
& symbols = USD,CAD,EUR

Here’s the final result:

{
"success": true,
"historical": true,
"date": "2013-12-24",
"timestamp": 1387929599,
"base": "CO",
"rates": {
"USD": 1.636492,
"EUR": 1.196476,
"CAD": 1.739516
}
}

Why Metals-API?

The most accurate software that uses an API is Metals-API. This software obtains data from over 15 reliable data sources every minute, the sources are banks and financial institutions.

Cobalt, gold, silver, and other metals prices are updated in real-time. Spreadsheets, websites, mobile apps, and other corporate applications can all benefit from this information.

Although it is accessible in over 170 currencies, including bitcoin, litecoin, and other altcoins, accessing this type of currency through the internet is difficult. Metals-API allows you to convert any quantity between different currencies.

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Also published on Medium.